best car insurance

Around 11,000 road accidents have been reported in the year 2018-2019 by the Pakistan Bureau of Statistics. A total of 13,000 vehicles have been involved in these accidents. Fortunately, more than half of these accidents have not resulted in any fatalities. However, something which accompanies all these accidents is the monetary loss or the amount spent on the vehicle to get on the road again.

To get rid of this financial burden, we suggest you get your vehicle insured. Getting insured is the norm in developed countries but it is thought of as a luxury, limited only to the elite, in developing countries such as Pakistan. We need to step forward and make it normal here too! 

To help you get your car insured, here are the three top plans of Jubilee General Insurance, the leading insurance company in Pakistan.

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  1. Private Car Comprehensive Insurance @2.5%*

This insurance covers losses in case of damage to vehicle by:

  • Accidental external means
  • Fire, external explosion, self-ignition, lightning and frost
  • Burglary, housebreaking and theft
  • Malicious act
  • Riot and strike damage
  • Flood, hail, wind, hurricane, cyclone, tornado and typhoon damages
  • Earthquake, volcanic eruption or other convulsion of nature
  • Risk while in transit by air, road, rail, inland waterway, lift or elevator
  • Transport of motor car to nearest workshop in case it breaks down (Subject to Rs 500 limit).
  1. Old Car Comprehensive Insurance @2.25%*

This insurance is exactly the same as the Private Car Comprehensive Insurance except that this does not cover the following loses:

  • Consequential loss
  • Depreciation and wear and tear
  • Mechanical and electrical breakdowns/failures
  • Damage to tyres and battery unless the vehicle is damaged too at the same time (company liable to 50% of the cost of replacement in that case)
  • Loss arising from theft or criminal misappropriation or breach of trust by Insured’s Driver or known person
  • Any accident or injury caused/sustained outside the geographical area
  • Claim arising out of any contractual liability
  • Any loss occurring in case of the vehicle being driven by any person other than a driver as described in the schedule
  • Any loss occurring from radiation, nuclear fuel or weapons
  • Any loss occurring as a result of the insured driving under influence of intoxicating liquor or drugs
  • Any loss occurring as a result of war or civil unrest.
  1. 3T Old Car Insurance @1.125%*

This type of insurance covers the following losses provided that the cost is less than 60% of the market value of the vehicle:

  • Accidental external means
  • Fire, external explosion, self-ignition, lightning and frost
  • Riot, strike, malicious act, civil commotion and terrorism
  • Flood, hail, wind, hurricane, cyclone, tornado and typhoon damages
  • Earthquake, volcanic eruption or other convulsion of nature.

The following conditions are to be fulfilled for all three types of insurances:

  • In the event of motor car being disabled by reason of loss or damage,
  • the reasonable cost of protection and removal to the nearest repairer should not exceed Rs.500
  • the company should be provided a detailed estimate of the costs incurred.
  • An immediate notice to the company to be issued in case of a claim arising.
  • In case of theft of the insured vehicle, an immediate notice to the police is mandatory.

*These rates are the minimum ones available. They are the given percentage of the market value of your vehicle.

Hope this article helped find the best insurance plan for you and your car. Drive Safe!

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